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Mining News

Mining-royalty structure released

20th March 2003 The South African government released its long-awaited royalty structure for mining companies on Thursday, with rates ranging from one to eight percent depending on the commodity. 

De Beers welcomes publication of Royalty Bill

20th March 2003 Diamond giant De Beers, whose product appears to have been hardest hit by the newly-released Mineral and Petroleum Royalty Bill, has welcomed the publication of the proposed legislation, as well as the fact that government has afforded stakeholders the opportunity to comment on the content and... 

Questions raised about sustainability of BEE charter goals

By: Martin Czernowalow     19th March 2003 Whereas the South African mining industry generally welcomed the broad-based Socio Economic Empowerment Charter, as well as the recently-released ‘scorecard’ to monitor its implementation, certain observers are raising questions about the sustainability of empowerment goals outlined... 

De Beers, Endiama extend moratorium

19th March 2003 The State diamond mining company of Angola, Endiama, and De Beers have agreed to extend the moratorium that expired on March 12, 2003, in order to continue negotiations. 

Output down 80% due to strike – Implats

19th March 2003 All underground workers at South Africa miner Impala Platinum (Implats) are on strike in an HIV/Aids-related row over death benefits, the company said yesterday. 

Miner secures €14m for Zambian expansion

19th March 2003 Canadian miner First Quantum Minerals has announced the finalisation of all conditions precedent for a €14-million term debt facility, for its wholly-owned subsidiary Bwana Mkubwa Mining Limited, with the European Investment Bank (EIB). 

Petrochemicals firm awards switchgear contracts

19th March 2003 Two contracts, worth a total of more than R2-million, have been awarded to the medium voltage division of ABB Power Technology for the supply, installation and commissioning of electrical switchgear systems for the expansion of Sasol Mining’s Syferfontein and Twistdraai Collieries, near... 

Kumba raises stake in Ticor to 50,12%

19th March 2003 South African iron-ore producer Kumba Resources said yesterday it had increased its stake in Australian Titanium producer Ticor Limited to 50,12%. 

DRD says rand, fire to affect third quarter

19th March 2003 South African mining firm Durban Roodepoort Deep said yesterday that the strength of the rand versus the dollar and a fire at a subsidiary would affect its earnings for the three months to March. 

Gold hedging falls out of fashion

18th March 2003 The international gold hedge book – the cumulative hedging activities of 84 gold producers, representing 66% of global output – fell further in the fourth quarter of 2002, declining by 4,9-million ounces (153 t) to total 80,9-million ounces (2 515 t). 

Small impact from Implats work stoppage

18th March 2003 South African platinum producer Impala Platinum (Implats) said yesterday work had stopped at its north shafts over a row about funeral benefits, but the impact on output was minimal at this stage. 

Zambian copper miner forecasts 2003 output at 250 000 t

18th March 2003 Zambia's Konkola Copper Mines (KCM) plans to raise copper production 12,6% to 250 000 t in 2003 and launch a second cost-saving plan, said the chief executive of the country's biggest copper producer. 

Legacy costs: Fighting back years of mine pollution

By: Zonika Botha     17th March 2003 As a result of the very nature of its activities, the mining industry has long been branded as one of the biggest pollution culprits in South Africa. 

Major bullish on Botswana gem opportunities

By: Martin Czernowalow     17th March 2003 Botswana combines the attributes of an excellent investment environment, global best-in-class diamond endowment and one of the world’s most difficult exploration terrains, said BHP Billiton on Friday. 

Gencor’s first-half profits slip 9,5%

17th March 2003 South African mine holding company Gencor said on Friday its first-half profit fell 9,5%, mainly because of lower income from its main asset, world number-two platinum company Impala Platinum. 

Asbestos deal opens way for unbundling

14th March 2003 Two agreements have been struck to settle all claims involving asbestosis against mine holding company Gencor for a total amount of R460,5-million, Gencor announced yesterday. 

SA gold output rises for the first time in nine years

14th March 2003 South African mines produced 395,2 t of gold in 2002, a 0,4% rise on 2001 and the first increase in nine years due to higher metal prices and a weak rand, the Chamber of Mines said yesterday. 

Platinum explorer signs BEE deal

14th March 2003 AIM-listed platinum exploration company, Jubilee Platinum, announced that its wholly-owned South African subsidiary, Dullstroom Plats, has entered into a shareholder’s agreement to form a new company with K-Plats (Keys), a black economic empowerment (BEE) mining company. 

Implats seeks to stimulate palladium demand

14th March 2003 The world's second-largest platinum producer is anxious to boost palladium use as a platinum boom in South Africa brings with it an increase in production of its sister metal. 

New gold rush is the big buzz in Toronto

14th March 2003 The gold rush of 2003 is on, sort of. 

BHP Billiton likely to test new mine law with coal project

14th March 2003 The world’s largest diversified mining company, BHP Billiton, has not altered its country risk premium for South African in light of the new minerals regime, but it admits that it needs to test the system to be able to provide shareholders with evidence that the country remains a sound... 

UN panel probing illegal DRC resource exploitation set to resume work

14th March 2003 An expert panel investigating the illegal exploitation of natural resources and other forms of wealth in the Democratic Republic of the Congo (DRC) has gathered at United Nations Headquarters in New York for consultations before heading to the Great Lakes region to begin its work. 

SA Chrome signs deal with Chinese steel group

14th March 2003 Ferrochrome producer South African Chrome and Alloys Limited this week announced that it has signed a heads of agreement with Jiuquan Iron and Steel Company (Jisco), the largest iron and steel producer in North West China, to undertake a feasibility study into the expansion of SA Chrome’s... 

Rockfalls kill three at AngloGold mines

14th March 2003 Three miners were killed in rockfalls at two of AngloGold’s mines at its West Wits operations near Cartonville yesterday. 

SA miners sign Aussie settlement

14th March 2003 A new joint venture agreement, between AngloGold Australia, Striker Resources and De Beers Australia Exploration Limited, has been signed this week, covering a large ground holding in the east Kimberley region of Western Australia. 

Observers at odds over recycled platinum growth

By: Martin Czernowalow     13th March 2003 There is general consensus that the global supply of recycled platinum and palladium is growing. 

First growth for narrow-reef explosives in 10 years

By: Martin Creamer     13th March 2003 Demand for narrow-reef mining explosives has grown for the first time in ten years, African Explosives Limited (AEL) MD Graham Edwards has told analysts. 

SA goes downstream with gold

By: Martin Creamer     13th March 2003 A milestone in South Africa’s precious metals beneficiation progress was reached yesterday with the opening of a R20-million gold-rope chain production facility in the Free State Province. 

Leadership changes in SA gold industry announced

13th March 2003 Gold Fields Limited has announced that Gerrit Kennedy will replace Neal Froneman as Vice President and Head of Operations for the Group’s Kloof Gold Mine, as from 1 April 2003. 

Zambia says Swiss firm to invest $91m in mine

13th March 2003 A Zambian Treasury official said yesterday Switzerland's J and W Investments Group was expected to spend $91-million to revive shuttered copper and cobalt group Roan Antelope Mining Corp of Zambia (Ramcoz). 

Funding secured for Zambia Copperbelt environmental project

By: Martin Czernowalow     12th March 2003 The World Bank and the Canadian International Development Agency (CIDA) have agreed to fund a $55,77-million environmental management programme in Zambia’s mining region. 

First gold from new SA junior

By: Martin Czernowalow     12th March 2003 AIM-listed South African gold miner Bullion Resources has announced the production of its first gold at its Drylands operation, following a long delay in the production process. 

Future of Namibian uranium mine uncertain

12th March 2003 Mining giant Rio Tinto's Rossing Uranium mine said yesterday it was holding talks with stakeholders in Namibia on the future of the mine, which is facing tough market conditions. 

Venezuela nickel mine to produce 18 000 t this year

12th March 2003 Venezuela's first nickel mine, controlled by international mining giant Anglo American, will reach its production capacity of 18 000 t this year, a company spokesperson said on Monday. 

Gold ends down on delayed UN resolution

12th March 2003 COMEX gold gave back all of its day-earlier gains and more by the end of yesterday, when commercial sellers decided it was time to take profits as the US was delayed in its attempt to push through a new United Nations resolution to force Iraqi disarmament. 

Announcement of Kriel South expected soon

By: Martin Czernowalow     11th March 2003 The prospect of establishing a new coal mine in Mpumalanga is under scrutiny. 

Botswana’s diamond sales rise by 4,7% in 2002

11th March 2003 Botswana's diamond sales rose by 4,7% to 11,2-billion pula ($2,17-billion) in 2002, due mainly to a bouyant US market, the company responsible for all the country's production said. 

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